Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.23.1
Leases (Tables)
3 Months Ended
Mar. 31, 2023
Leases  
Schedule of Components of Lease Costs

The following table provides the components of lease cost recognized in the condensed consolidated statements of operations and comprehensive income:

Three Months Ended

    

March 31, 2023

    

March 31, 2022

Operating lease cost

$

484

$

280

Finance lease cost:

Amortization of lease assets

257

258

Interest on lease liabilities

102

122

Finance lease costs

359

380

Total lease cost

$

843

$

660

Weighted Average Discount Rates and Weighted Average Remaining Lease Term

The following table provides the weighted average discount rates and weighted average remaining lease terms for the Company’s leases:

    

March 31, 2023

    

December 31, 2022

Operating leases

Weighted average discount rate

19.1%

8.0%

Weighted average remaining lease term

13.65 years

5.49 years

Finance leases

Weighted average discount rate

8.0%

8.0%

Weighted average remaining lease term

4.18 years

4.66 years

Schedule of Maturity of Contractual Undiscounted Finance Lease Liabilities

Future minimum lease payments under the Company’s non-cancellable leases as of March 31, 2023 are as follows:

Year ended December 31,

    

Finance

    

Operating

Remainder of 2023

$

1,094

$

1,834

2024

1,489

2,433

2025

1,212

2,468

2026

926

2,530

2027

916

2,594

2028 and thereafter

380

28,264

Total undiscounted lease liabilities

6,017

40,123

Interest or discount on lease liabilities

(953)

(27,245)

Total present value of minimum lease payments

5,064

12,878

Lease liability - current portion

(1,105)

(83)

Lease liability

$

3,959

$

12,795

Schedule of Maturity of Contractual Undiscounted Operating Lease Liabilities

Future minimum lease payments under the Company’s non-cancellable leases as of March 31, 2023 are as follows:

Year ended December 31,

    

Finance

    

Operating

Remainder of 2023

$

1,094

$

1,834

2024

1,489

2,433

2025

1,212

2,468

2026

926

2,530

2027

916

2,594

2028 and thereafter

380

28,264

Total undiscounted lease liabilities

6,017

40,123

Interest or discount on lease liabilities

(953)

(27,245)

Total present value of minimum lease payments

5,064

12,878

Lease liability - current portion

(1,105)

(83)

Lease liability

$

3,959

$

12,795